In this paper a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention are analysed. The friction which is investigated is related to the ownership of children. If parents have no claim on their children’s...

Access to essential drugs is vital for the promotion of better health for the entire population. High prices of drugs are being used as an argument for greater government role in the drugs sector through effective regulation of the drug market. The high prices of drugs in the Philippines will...

This paper examines core features of poor rural areas, the nature of coordination problems faced by different potential economic actors, the impacts of these problems on markets and economic development, and the ways that these have been addressed or ignored in different policies and policy...

In his early years, B S Minhas, who passed away recently, enriched economics with his valued theoretical contributions that are today an integral part of economic literature. These were both acknowledged and challenged by the giants of economics at that time. On his return to India, realising...

Milton Friedman`s place in the world of economics is well assured not only because of his concepts and theorems but also due to his demonstration that free market can be an instrument of social justice too.

A review of several decades of scholarship on civil war, focusing on the answers to key questions: Why do wars begin? Who fights? How are armed groups organized? How can we end and prevent internal war? A survey of the growing body of macroeconomic and microeconomic evidence to assess the...

The key elements of effective central banking that account for much of the improvement in monetary policy around the world today are outlined and explained. The past quarter of the century has been a revolutionary period in which the world emerged from great inflation and output instability into...

In this paper, how social preferences overcome the commitment problems implicit in vote-buying is examined. Data used for the study is a survey information on vote-buying experienced in a 2006 municipal election in Paraguay, with information on behavior in experiments carried out in 2002....

The paper attempts to construct political influence variables and explain discrepancies in fund disbursement through proper econometric specification in the Indian context.